The following chart shows the relationship between the housing price and the 30-Year Fixed Rate Mortgage in the United States. The Mortgage rate has been gradually declining since 1983 while the property values had been increasing until the collapse of the housing market in 2007. The housing price began to rise again in 2012 when the mortgage rate fell below 4%.

The following chat illustrates the correlation analysis of two variables: Housing price and 30-Year Mortgage Rate. The coefficient of correlation is -0.773 which implies that the relationship is highly negative correlated.

The following chart clearly shows that the relationship between the housing price and 30-mortgage rate is highly correlated. However, the relationship is somewhat ambiguous in the 2010s (in red circle).